Etrade is removing the shares from my account...
Dear XXXXX
E*TRADE from Morgan Stanley values you as a client and is committed to providing you with important information about your account(s).
What you need to know
Our records indicate that you hold the below-referenced security, which the Depository Trust Company (DTC) has classified as non-transferable.* As a result, effective 30 days from the date of this letter, your positions will be removed from your account.
Account: XXXX- XXX
Security: UNITED WESTERN BANCORP INC
Quantity: XXXXXX
Additional information
• The removal of the security will be displayed as “PREM Removal” under the Transaction History in your account statement. Please consult a tax advisor regarding any tax consequences.
• Since there is no transfer agent for this security, we are unable to register and deliver a physical stock certificate to you. If your account remains open and we become aware of active transfer agent services for this security in the future, we will attempt to reinstate your position. If your account is closed, we will attempt to contact you at your last known address.
• Please retain a copy of this notification for your records.
*Non-transferable securities are securities of issuers that have not employed the services of a transfer agent for six years or longer, often due to inactivity or insolvency, which the DTC has deemed eligible for its Position Removal Program (PREM). As outlined in the E*TRADE Customer Agreement, E*TRADE reserves the right to remove shares of non-transferable securities from your account, or charge a servicing fee to carry such positions on your behalf, at its discretion.
